4 Apr 2011 18:10

Total closes purchase of 12.087% strake in NOVATEK

MOSCOW. April 4 (Interfax) - Total E&P Arctic Russia has closed the purchase of a 12.0869% stake in Russian gas producer NOVATEK .

NOVATEK said in a statement that the subsidiary of France's Total had increased its stake in the company from zero to that amount.

It also said SWGI Growth Fund (Cyprus) Ltd, which is owned by senior management, notified it that its stake, including Global Depositary Receipts (GDRs), had decreased from 17.5843% to 11.64735%.

NOVATEK said in its latest financial report to Russian Accounting Standards (RAS) that SWGI Growth Fund owned 5.66% of its shares.